What is Internet Banking ? The importance of internet banking in today's life

Internet Banking : 

Here we are taking the example of State Bank of India to make students understand about online transactions

By using Internet banking services, you can do the following nomal   banking  transactions online :

1 Funds transfer between own accounts.

2 Third party transfers to accounts maintained at any branch of SBI.

3 Group Transfers to accounts in State Bank Group.

4 Inter Bank Transfers to accounts with other Banks.

5 you can get  Online standing instructions for periodical transfer for the above.

6 Credit PPF accounts across branches.

7 Request for Issue of Demand Draft.

8 Request for opening of new accounts.

9 Request for closure of Loan Accounts.

10 Request for Issue of Cheque Book.

11 Earn reward points for transactions through Internet Banking. Which you can use to do bill payments and recharges.

Apart from these, there are some other value added  features available are :

1 Utility bill payments.

2 Online Ticket Booking for travel by Road, Rail and Air.

3 SBI LIFE, LIC and other insurance premium payments.

4 SBI and other Mutual funds Investments. And can also apply for the demat account online.

5 SBI and other Credit Card dues payments can be done using internet banking.

6.Pay Tax  Income, Service, State Govt. Online. Customs Duty Payment.

7 Online Share Trading (eZ-trade@SBI).

8 Online Application for IPO.

9 Fee Payment to select educational institutions and coachings